Trump appoints HFT trader to head up US Army

Founder of Virtu, who formerly served in the US Army, will join US government in January.

Donald Trump has named the founder and executive chairman of a high-frequency trading (HFT) firm as Secretary of the Army.

The appointment of Vincent Viola, who founded the market-maker in 2008, previously served with the 101st Airborne Division after graduating from the United States Military Academy in 1977. After a five year career as an officer he went on to study at New York Law School.

Viola’s previous roles include as a trader on the New York Mercantile Exchange and as chairman of NYMEX from 2001 to 2004.

A statement from President-elect Trump said: “Whether it is his distinguished military service or highly impressive track record in the world of business, Vinnie has proved throughout his life that he knows how to be a leader and deliver major results in the face of any challenge.”